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NEWS December 12, 2022

Notable millionaires invest in Swedish zinc-ion batteries that solve raw material supply challenges

• Enerpoly’s seed round raised USD 1.5 million.
• These funds finance upcoming pilot projects that demonstrate the zinc-ion battery technology.
• Investors hail from the financial and industrial sectors in Sweden and the USA and include tech-savvy investors, Fredrik Sidhagen and Johan Nord, as well as bankers, Eirik Winter, Malin Engman and André Rhodin.

Enerpoly recently closed a $1.5 million seed round. Enerpoly develops zinc-ion batteries that offer asustainable solution for stationary energy storage. Investors and angels that participated in the previous pre-seed round reinvested. New investors include known names in the financial and industrial sectors in Sweden and USA, such as Fredrik Sidhagen (CEO of RCO Group), Johan Nord (previously CCO at Trustly), as well as bankers Eirik Winter, Malin Engman and André Rhodin.

– The energy crisis affects everyone. Enerpoly is an interesting company because they are working on solving the very important problems of affordability and supply chain reliability in energy storage. Energy storage development is essential in these times when energy security, access and sustainability are becoming critical for the Nordics, says Eirik Winter, investor.

Enerpoly’s patented technology uses cost-effective raw materials, such as zinc, which can be sourced inSweden and Europe. This can contribute to the region’s global competitiveness within the fast-growing battery industry. Europe is lagging China and USA in securing raw material supply for energy and mobility systems. Zinc-ion technology can help Europe catch up in the global race, in establishing both strategic autonomy and sustainability for its clean energy system.

The raw materials also contribute to the battery’s affordability and safer battery manufacturing. The manufacturing process and components are water-based, meaning they are non-flammable, non-toxic, and non-explosive.

– The battery industry is struggling to set up local supply chains and production infrastructure to ensure future stability. That’s why it’s so important that Enerpoly’s technology is built on globally abundant materials and that we aim to establish battery manufacturing right here in Sweden, with a technology that uses materials that can be sourced in Sweden. In fact, large amounts of zinc were recently discovered in the silver mines of Sala, says Eloisa de Castro, CEO of Enerpoly.

The purpose of Enerpoly’s seed round is to finance upcoming pilot projects that demonstrate the zinc-ion battery technology and enter a fast-growing billion-dollar market. The pilots will be carried out in Sweden, Europe and globally in collaboration with energy storage innovators, such as Polarium, one of the first companies to use lithium-ion technology for the telecom industry. Pilots are expected to commence in 2023.

– The pilot customers make up nearly 10 percent of the global energy storage market. Now they’re exploring Enerpoly zinc-ion batteries for applications that they expect to grow significantly in the next 3-5 years. Together, we can move toward building a future where everyone has access to clean energy, says Eloisa de Castro.

About Enerpoly

Enerpoly develops zinc-ion batteries for stationary energy storage. The company’s patented battery technology solves critical problems with today’s energy storage solutions. Zinc-ion batteries are a safe, sustainable, and scalable battery technology that can enable 100% renewable energy on a global scale. The company was founded in 2018 in Sweden, with growth accelerating with funding from the European Commission (EIC) and the Swedish Energy Agency. Enerpoly is now taking its zinc-ion batteries from the lab to commercial scale, with pilot projects ready for 2023. Learn more at www.enerpoly.com.